Alliance Residential JV Secures $59M to Bay Area Senior Community
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Walton Street Capital financed the project.
Alliance Residential, Affinius Capital, and Walton Street Capital secured a loan of $59.2 millions for the refinancing The Watermark at Almaden in San Jose, Calif. The community consists of 200 units.
The Watermark at Almaden was formerly known as Atria Almaden and includes assisted living and dementia care units. The property will be completed by the end 2020 and include studio, one, two, and companion bedroom floorplans spread across a 4-story building.
This community has approximately 70,000 square foot of amenity area, including a swimming-pool, a gym, a wellness-center, an art studio and a spa. There is also a cocktail lounge, multiple dining rooms, a movie theatre, a yoga studio, and a golf simulator. The services include scheduled transportation, housekeeping, laundry, on-site maintenance and registered nurses.
The property, located at 4610 Almaden Expressway is eight miles from downtown San Jose, in a neighborhood with many retail centers, restaurants and green spaces.
